Hatsun Agro Product Ltd. financial results for the quarter ended September 30, 2021
Chennai (Tamil Nadu) [India], October 19 (ANI/NewsVoir): Hatsun Agro Product Ltd., India's leading private sector dairy company announces its financial results for the quarter and six months ended September 30, 2021.
Highlights
Q2 FY22 Revenues up by 23.24% and H1 FY22 Revenues up by 22.02%
Q2 FY22 PAT up by 24.79% and H1 FY22 PAT up by 15.20%
FY22 vs FY21 comparison: Hatsun Agro Product Ltd. reported:
Sales registered in Q2 FY22 was Rs.1635.41 crores as against Rs.1326.99 crores in Q2 FY 21 registered a growth of 23.24%
Sales registered in H1 FY22 was Rs. 3180.12 crores as against Rs. 2606.27 crores in H1 FY21 registered a growth of 22.02%
PAT in Q2 FY22 was Rs. 82.09 crores as against Rs. 65.79 crores in Q2 FY 21 registered a growth of 24.79%
PAT in H1 FY22 was Rs. 140.42 crores as against Rs. 121.89 crores in H1 FY 21 registered a growth of 15.20%
Performance for the quarter and outlook
Commenting on the results, RG Chandramogan, Chairman, Hatsun Agro Product Ltd. said, "We are happy to report a decent growth in revenues albeit little shorter to our expectations, due to unprecedented Monsoon exceeding more than 10% from the normal, in the last few months, in the entire South India and Maharashtra.
These Markets account for 95% of our business. We are investing about Rs.450 Crores in our business across new manufacturing facilities to expand capacities in Ice Cream, Milk, Curd, Milk Products and Cattle Feed and also in distribution, Sales and Marketing before the end of FY 2022. We will have enough capacities in all our Divisions for FY 2022-23."
Other Updates
Hatsun Agro Product signs power purchase agreement with Swelect Renewable Energy Private Limited
HAP has entered into a fresh agreement with Swelect Renewable Energy Private Limited for purchase of solar power under captive user model. This Solar project which is expected to be commissioned by February 2022 is estimated to provide HAP around 1.45 crore units of electricity, annually, resulting in cost savings of Rs. 3 crores.
Hatsun Agro Product Limited has already started consuming solar power from 01.10.2021 from the recently commissioned solar power plant by Swelect Sun Energy Pvt. Ltd.
The total consumption of Solar power by Hatsun Agro Product Limited from the above two projects alone will be around 3.70 crore units per annum and the total cost saving will be around Rs. 8.50 crores per annum.
Hatsun Agro Product Forays into Madhya Pradesh and West Bengal
Hatsun Agro Product Ltd. (HAP), a leading private sector dairy company in India, inaugurated "HAP Daily" outlets in Indore, Madhya Pradesh and Kharagpur, West Bengal. Known for their range of high quality milk products, HAP Daily, a neighbourhood retail outlet from Hatsun Agro Product Ltd., offers dairy products & icecreams at the convenience of the customers. With the launch of these stores HAP officially marks its presence in these states. In addition to the entire range of Arun Icecreams, these outlets will also retail other products from Hatsun such as Ghee, Skimmed Milk Powder and Dairy Whitener.
Arun Icecreams launches "Neapolitan Bar"
Arun Icecreams, widely popular for its delectable variety of ice creams that are made with real milk and cream, has launched an all new ice cream bar variant - "Neapolitan Bar". Made of three distinct flavours Vanilla, Strawberry and Chocolate all layered together in one bar, the ice cream bar is a blend of three flavours for a perfect fun treat. The 60 ml bar is priced at Rs. 20/- and is available across retail outlets, supermarkets and HAP Daily outlets.
Hatsun Agro Product Ltd. (HAP) Is a leading private sector dairy player in India. HAP procures milk from select fine quality cattle collected directly from around 4,00,000 farmers, chosen with care. HAP follows quality standards certified by the prestigious ISO 22000. HAP's portfolio includes: Arun Icecreams - South India's leading ice cream brand, Arokya Milk - the country's largest private sector milk brand, Hatsun Dairy Products - a rapidly growing, wide portfolio brand of dairy products, Ibaco - Premium chain of ice cream outlets enabling consumers create their own ice cream sundaes, Oyalo - New brand offering from Hatsun that dishes out delicious pizzas & Santosa - a fast growing cattle feed brand. HAP's products are exported to 38 countries around the world.
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